Singapore will become 2nd biggest gaming destination after Macao: Analysts

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SINGAPORE:  Singapore is poised to become the second largest gaming destination in the world after Macao this year, local TV reported on Wednesday.

Analysts made the same prediction last year but the outcome from two integrated resorts in Singapore fell short of this expectation, Xinhua news agency quoted local news reports as saying.

Analysts are confident that following Marina Bay Sands (MBS)’ strong figures, gross gaming revenue from the two local integrated resorts may overtake Las Vegas Strip by the end of this year.

MBS raked in gross gaming revenue of over 2 billion U.S. dollars in 2011, while its rival Resorts World Sentosa recorded net gaming revenue of close to 2.6 billion U.S. dollars in the same year.

The combined gross gaming revenue of Singapore’s two casinos is about 5.7 billion U.S. dollars, just a shy away from the total gaming revenue of 6.1 billion U.S. dollars collected from more than 20 casinos along Las Vegas Strip.

With MBS strong showing in the first quarter, some analysts are upbeat that Singapore’s gaming industry will overtake Las Vegas this year.

MBS posted net revenue of 848.7 million U.S. dollars in the first quarter this year with casino earnings reaching 701.3 million U.S. dollars. –Bernama